India cuts tariffs on U.S. goods to 0%
Change
India will lower tariffs on a wide array of American industrial and agricultural goods to 0% under a trade deal.
Why it matters
Tariffs for a broad set of U.S. industrial and agricultural products will be set at 0%. Examples cited include fruits and vegetables and categories such as manufactured goods, chemicals, and medical devices. The U.S. will continue to apply an 18% tariff on imports from India. A U.S. trade official indicated deal specifics were identified and paperwork remains to be completed.
Implications
- • Specified U.S. exporters will face zero import duties when shipping affected industrial and agricultural goods to India.
- • U.S. importers will continue to face an 18% tariff on goods imported from India.
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